KEC International Zooms 4% After Winning ₹1,025 Cr Orders

Shares of KEC International gained 4% on Thursday's session after the company said it won orders worth ₹1,025 crore.

What Happened: KEC International said the orders were in the transmission and distribution (T&D) and cables businesses. Within the T&D Business, it won a 765-kilovolt GIS substation order from Power Grid Corporation of India, a 225 kilovolt composite project from West Africa, and an order for the supply of towers, hardware and poles in the Americas.  

The company said it has secured orders for supply of various types of cables in India and overseas. 

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Vimal Kejriwal, managing director and CEO of KEC International said the order inflow in the T&D segment bulked up its order book in the domestic and international markets. Including the fresh orders, the company’s year-to-date order intake exceeds ₹4,000 crore, growing 70% from the previous year, Kejriwal added. 

In its March quarter results, KEC International posted a 110% year on year jump in net profit to ₹151.75 crore. It reported revenue of ₹6,164.83 crore, an uptick of 11.58% from a year ago.

Price Action: Shares of KEC International were up 4.67% at ₹903.70 on Thursday morning session. 

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